l)‘ · 2019. 12. 16. · ,1..l)‘. ® team lea56 putting lnciia to work october 30,2018 bse...
TRANSCRIPT
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L)‘. ®
Tea m Lea 56
Putting lnciia to Work
October 30,2018
BSE Limited, National Stock Exchange of India Limited,
Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor,
Dalal Street, Fort, Plot no. C/1, G Block,
Mumbai - 400 001 Bandra Kurla Complex, Bandra (E),Mumbai - 400 051
Scrip Code: 539658 Scrip Code: TEAMLEASE
Sub: Outcome of Board MeetingRef: Re 11 ation 30 and 33 of SEBI Listin 0in ations & Disclosure Requirements].
Regulations. 2015 ILODEI
Dear Sir/Madam,
In compliance with the provisions of Regulation 30 and 33 of the SEBl LODR, we hereby inform
you that the Board of Directors at their meeting held today i.e., on 30th October, 2018 which
commenced at 12:00 PM, and concluded at 03:30 PM considered, inter-alia, and approved the
following:
1. Unaudited Financial Results of the Company for the quarter and six months ended 30th
September, 2018 (Standalone and Consolidated) (Enclosed)2. Limited Review Report on the above results for the quarter and six months ended 30th
September, 2018 from our Statutory Auditors M/s. S. R. Batliboi & Associates LLP,
Chartered Accountants (Enclosed)3. A copy of Press Release is being issued in respect of aforesaid financial results.
(Enclosed)4. Appointment of Ms. Alaka Chanda as Company Secretary and Compliance Officer of the
Company.
This is for your information and records.
Thanking You.
Yours faithfully,
For TeamLease Services Limited
Managing Director
(DIN: 00151814)
Encl: As above
TeamLease Services Limited, CIN No: L7414OMHQOOOPLC124003
6th Floor, BMTC Commercial Complex, 80 Feet Road, Koramangala, Bangalore - 560095.
Ph : (91-80) 33002345 Fax: (91-80) 33243001 [email protected] / www.teamlease.com
Registered Office : No. 6, 3rd Floor, C \X/ing, Laxmi Towers, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051
12th Floor
5. R. BATLIBOI & ASSOCIATES LL P W w Canberra 8W
Chartered Accountants No.24, Vittal Mallya Road
Elenqaluru- 560 001,1ndla
Tel ;+91 80 6648 9000
Limited Review Report
Review Report to
The Board of Directors
TeamLease Services Limited
t0
We have reviewed the accompanying statement of unaudited consolidated Ind AS financial results
of TeamLease Services Limited (the ‘Company’) comprising its subsidiaries (together referred to
as “the Group’) and its associates, for the quarter ended September 30, 2018 and year to date from
April 1, 2018 to September 30, 2018 (the “Statement”) attached herewith, being submitted by the
Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (‘the Regulation’), read with SEBI Circular No.
CIR/CFD/FAC/62/2016 dated July 5, 2016 (‘the Circular’).
The preparation of the Statement in accordance with the recognition and measurement principleslaid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribedunder Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian AccountingStandards) Rules, 2015, as amended, and the Circular is the responsibility of the Company'smanagement and has been approved by the Board of Directors of the Company, Our responsibilityis to express a conclusion on the Statement based on our review.
We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410,‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’issued by the Institute of Chartered Accountants of India. This standard requires that we plan and
perform the review to obtain moderate assurance as to whether the Statement is free of material
misstatement. A review is limited primarily to inquiries of Company’s personnel and analyticalprocedures applied to financial data and thus provides less assurance than an audit. We have not
performed an audit and accordingly, we do not express an audit opinion.
Based on our review conducted as above and based on the consideration of the reports of other
auditors on the unaudited separate quarterly financial results and on the other financial information
of subsidiaries and associates, nothing has come to our attention that causes us to believe that the
accompanying Statement of unaudited consolidated Ind AS financial results prepared in accordance
with recognition and measurement principles laid down in the applicable Indian AccountingStandards specified under Section 133 ofthe Companies Act, 2013, read with relevant rules issued
thereunder and other recognised accounting practices and policies has not disclosed the information
required to be disclosed in terms of the Regulation, read with the Circular, including the manner in
which it is to be disclosed, or that it contains any material misstatement.
S R Batliboi s. Associates LLP, a Limited Liability Partnership with LLP Identity No AAB-4295
Regd Oltice : 22, Camac Street. Block ‘3', 3rd Floor, Kolkatar'IOO 016
S. R. BATLIBOI & ASSOCIATES LLPChartered Accountants
5. We did not review the financial results and other financial information, in respect of six subsidiaries,whose Ind AS financial results include total assets ofRs. 31,001.18 Lakhs as at September 30, 2018,and total revenues of Rs. 7,813.05 Lakhs and Rs. 15,452.96 Lakhs for the quarter and the periodended on that date. These Ind AS financial results and other financial information have been
reviewed by other auditors, whose financial results, other financial information and limited review
reports have been furnished to us by the Company’s management. The consolidated Ind AS
financial results also include the Group’s share of net loss of Rs. 6.74 Lakhs and Rs. 19.43 Lakhs
for the quarter and for the period ended September 30, 2018 respectively, as considered in the
consolidated Ind AS financial results, in respect of two associates, whose financial results, other
financial information have been reviewed by another auditor and whose reports have been furnished
to us by the Company’s management. Our conclusion, in so far as it relates to the affairs of such
subsidiaries, and associates is based solely on the report of other auditors. Our conclusion is not
qualified in respect of this matter.
For S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants
ICAI Firm registration number: 101049W/E3 00004
ANN)per Navin AgrawalPartner
Membership No.: 56102ll
Place: Bengalurui“
%Date: October 30, 2018
'
“f;
TEAMLEASE SERVICES LIMITED
Regd. Off: Office No. 6, 3rd Floor, C Wing Laxmi Towers, Bandra Kurla Complex, Bandra (E) Mumbai - 400051
CIN: L74140MH2000PLC124003 E-MAIL: [email protected] WEBSITE: www.team|easegroup.com
Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2018
In Lakhs share
Preceding6-Months Ended 6-Months Ended Year Ended
3-Months Ended 3-Months Ended3-Months Ended
Particulars 30/09/2018 30/09/2018 30/09/2017 31/03/2018
Unaudited l‘' '
l‘" ‘
|" ‘
Audited
Revenues
Revenue from .45
Income 1.022.18
otal income
Finance costs
before tax and share of
Share from associates
before tax
lax
Income tax
Net
not to or
Re-measurement on defined benefit
net tax
492.78
1.709.68
Other
Easn:
Diluted EPS
Notes
1 In terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the aforesaid statement of unaudited consolidated financial results for the
quarter and six months ended September 30,2018 and unaudited consolidated statement of assets and liabilities as at September 30, 2018 of the Company have been reviewed by the
Audit Committee and approved by the Board of Directors at their respective meetings held on October 30, 2018. The aforesaid results for the quarter and six months ended September
30, 2018 have been subjected to limited review by the statutory auditors of the Company
2 The financial results have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (IND-AS) prescribed
under section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder
3 lND»AS 115 Revenue from Contracts with Customers, mandatory for reporting periods beginning on or after April 1, 2018 replaces existing revenue recognition requirements. The
Company has evaluated impact of Ind AS 115 for various revenue streams In respect of revenues recognised till March 31, 2018, where performance obligation criteria was not met,
the same has been reversed and impact thereof(net of tax effect) of Rs. 100 59 lakhs is adjusted in the retained earnings as at April 01, 2018 under modified retrospective approach
For the six months ended September 30, 2018, revenue of Rs. 136 50 lakhs has not been recognized since the required performance obligation criteria is not met
4 During the quarter ended September 30, 2018, the Company acquired additional equity stake of 21% in Cassius Technologies Private Limited ("CI'PL") as per the definitive agreements
at an agreed consideration of Rs. 378 00 lakhs, thereby increasing the total stake to 51% in CTPL Further, the Company has option to acquire balance 49% equity stake at an agreed
price. Accordingly, CTPL has been accounted for as a 100% subsidiary with effect from July 31, 2018.
5 The unaudited consolidated financial results for the quarter and six months ended September 30, 2018 include the financial results of acquired subsidiary Evolve Technologies and
Services Private Limited (ETSPL) and associate School Guru Eduserve Private Limited (SGEPL), which was acquired during October 2017/ November 2017. Further, CTPL has been
accounted for as an wholly owned subsidiary effective August 01, 2018. Accordingly the unaudited consolidated financial results for the quarter and six months ended September 30,
2018 are not comparable with the results for the quarter and six months ended September 30,2017
Further, it includes the unaudited financial results of subsidiaries IIJT Education Private Limited, TeamLease Digital Private Limited, Keystone Business Solutions Private Limited and
TeamLease Education Foundation
6 During the quarter ended September 30, 2018, no options have been granted or forfeited under the scheme TeamLease Employees Stock Option Plan 2015. Further, 17,077 options
got exercised and 900 options got lapsed on account of resignation of an employee in the current quarter
7 During the quarter ended September 30, 2018, the Company entered into an Investment agreement with Avantis Softech LLP (”Avantis LLP") to acquire equity stake and invest in
Compulsorily Convertible Cumulative Preference Shares ('CCPS‘) of a private limited company to be formed in near future on conversion of Avantis LLP at an agreed consideration of
Rs.700.00 Lakhs. Avantis LLP is engaged in rendering SAAS based governance, risk and compliance automation
8 The figures of the previous periods have been regrouped/ reclassified, wherever necessary
9 The above consolidated financial results of the Company are available on the Company's website (www teamleasegroup corn) and also on the website of BSE (www bseindia corn) and
NSE (www.nseindia com), where the shares ofthe Company are listed
For and on behalf of the Board
For TeamLease Services Limited
C08 VAL.“Ashok Kumar Nedurumalli
Date: October 30, 2018
Place: Bengaluru
Managing Director
DIN :00151814
TEAMLEASE SERVICES LIMITED
Regd. Off: Office No.6, 3rd Floor, C Wing Laxmi Towers, Bandra Kurla Complex, Bandra (E) Mumbai - 400051
CIN: L74140MH2000PLC124003 E-MAIL: [email protected] WEBSITE: www.teamleasegroup.com
Consolidated Segment-wise revenue, results, assets and liabilities for the quarter and half year ended September 30, 2018
The Company is primarily engaged in the business of providing manpower services. The Company has identified following reportable segments in context of
(ND AS 108 Operating Segments:
General Staffing and Allied Services - Comprises of Staffing Operations, Temporary Recruitment and Payroll & NETAPP.
Specialised Staffing Services -
Comprises of IT Staffing Operations and Telecom Staffing Operations.
Other HR Services - Comprises ofJob Portal, Permanent Recruitment, Regulatory Compliance and Training Operations.
(Rs. ln Iakhsl
:r.Particulars
3-Months EndedPreceding Corresponding
6-Months Ended 6-Months Ended Year Ended0‘ 3-Months Ended 3-Months Ended
30/09/2018 30/09/2018 30/09/2017 31/03/201830/06/2018 30/09/2017
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Segment Revenue
General Staffing and Allied Services 97,731 41 91,608 17 83,504.39 189,339.58 165,155.05I 337,490.51
Specialised Staffing Services 7,562.77 7,499.17 2,682.80 15,061.94 5,144.70 18,293.44
Other HR Services 3,771.62 3,025.83 1,373.94 6,797.45 2,557.70 6,627.59
Total Income from operations 109,065.80 102,133.17 87,561.13 211,198.97 172,857.45 362,411.54
2 Segment results
General Staffing and Allied Services 1,747.48 1,472.55 1,351.83 3,220.03 2,595.37 5,817.60
Specialised Staffing Services 582.35 539.45 409.84 1,121.80 680.97 1,751.33
Other HR Services 38178 224.77 (33.68) 606.55 34.24 353.40
Unallocated (205.29) 25.27 31.43 (180.02) 136.57 (422.29)
Total 2,506.32 2,262.04 1,759.42 4,768.36 3,447.15 7,500.04
Less: Unallocable items
Finance costs 137.42 107.27 29.36 244.69 54.18 246.67
Profit before tax 2,368.90 2,154.77 1,730.06 4,523.67 3,392.97 7,253.37
3 Segment Assets:
General Staffing and Allied Services 34,682.90 29,889.68 29,077.98 34,682.90 29,077.98 28,787.38
Specialised Staffing Services 23,980.88 23,058.82 14,092.65 23,980.88 14,092.65 22,592.09
Other HR Services 8,935 90 7,867.87 5,148.93 8,935.90 5,148.93 7,306.29
Unallocated 33,327.14 34,915.93 30,549.98 33,327.14 30,549.98 29,920.06
Total 100,926.82 95,732.30 78,869.54 100,926.82 78,869.54 88,605.82
4 Segment Liabilities:
General Staffing and Allied Services 35,003.20 31,814 15 26,950.17 35,003.20 26,950.17 27,244.76
Specialised Staffing Services 4,321.27 4,684 79 1,470.30 4,321.27 1,470.30 4,885_33
Other HR Services 5,183.72 5,314.29 3,078.74 5,183.72 3,078.74 5,113.29
Unallocated 7,659.95 7,671.56 6,844.26 7,659.95 6,844.26 7,195.72
Total 52,168.14 49,484.79 38,343.47 52,168.14 38,343.47 44,439.10
Date: October 30, 2018
Place: Bengaluru
For and on behalf of the Board
For TeamLease Services Limited
@ SW "Q‘
Ashok Kumar Nedurumalli
Managing Director
DIN : 00151814
TEAMLEASE SERVICES LIMITED
Regd. Off: Office No. 6, 3rd Floor, C Wing Laxmi Towers, Bandra Kurla Complex, Bandra (E) Mumbai -400051
CIN : L74140MH2000PLC124003 E-MAIL : [email protected] WEBSITE : www.teamleasegroup.com
Unaudited Consolidated Statement of Assets and Liabilities as of September 30, 2018
(Rs. In Lakhs)
Sr. As at
N°' Particulars30 sanitary 2018
mm" 31' 2°18
ASSETS Unaudited Audited
1 Non-current assets
Property, plant and equipment 647.70 542.65
Goodwill on consolidation 12,567.92 11,275.12
Other intangible assets 1,990.64 1,937.29
Intangible assets under development 168.29 21.89
Financial assets
(i) Investments 2,051.21 2,697.80
(ii) Loans 5,821.73 5,134.79
(iii) Others 3,916.94 4,186.20
Deferred tax assets (net) 5,314.70 3,992.19
Income tax assets (net) 13,628.50 9,989.33
Other non-current assets 38.06 201.62
Total Non-current assets 46,145.69 39,978.88
2 Current assets
Financial assets
(i) Investments 3,549.25 3,231.52
(ii) Trade receivables 22,424.63 22,348.64
(iii) Cash and cash equivalents 6,046.70 7,292.99
(iv) Bank balances other than cash and cash equivalents 5,855.89 6,950.40
(v) Loans 185.33 139.52
(vi) Others 14,069.81 7,143.11
Other current assets 2,427.79 1,299.03
Asset classified as held for sale 221.73 221.73
Total Current assets 54,781.13 48,626.94
TOTAL ASSETS 100,926.82 88,605.82
8 EQUITY AND LIABILITIES
1 EQUITY
Equity share capital 1,709.68 1,709.68
Other equity 47,049.00 42,457.04
TOTAL EQUITY 48,758.68 44,166.72
LIABILITIES
2 Non-currentliabilities
Financial liabilities
Other financial liabilities 499.13 -
Net employee defined benefit liabilities 4,286.83 4,372.09
Other non-current liabilities 477.90 489.07
Total Non-current liabilities 5,263.86 4,861.16
3 Current liabilities
Financial llabllitles
(i) Borrowings 738.94 728.69
(ii) Trade payables
(a) Total outstanding dues of micro enterprises and small enterprises; and
(b) Total outstanding dues of creditors other than micro enterprises and small 2,552.37 1,760.83
enterprises.
(iii) Other financial liabilities 22,983.58 16,258 13
Net employee defined benefit liabilities 2,592 37 2,241.83
Other current liabilities 18,024.02 18,567.46
Liabilities directly associated with the assets classified as held for sale 13.00 21.00
Total current liabilities 46,904.28 39,577.94
TOTAL LIABILITIES 52,168.14 44,439.10
TOTAL EQUITY AND LIABILITIES 100,926.82 88,605.82
Date: October 30, 2018
Place: Bengaluru
For and on behalf of the Board
For TeamLease Services Limited
N04“Ashok Kumar Nedurumalli
Managing Director
DIN : 00151814
12th Floor
S.R- BATLIBOI & ASSOCIATES LLP "UB City” Canberra Block
No. 24, Vittal Mallya RoadChartered Accountants
Bengaluru-
560 001, India
Tel :+91 80 6648 9000
Limited Review Report
Review Report to
The Board of Directors
TeamLease Services Limited
We have reviewed the accompanying statement of unaudited standalone Ind AS financial
results of TeamLease Services Limited (the ‘Company’) for the quarter ended September 30,2018 and year to date from April 1, 2018 to September 30, 2018 (the “Statement”) attached
herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘theRegulation’), read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 (‘theCircular’).
The preparation of the Statement in accordance with the recognition and measurement
principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial
Reporting” prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of
Companies (Indian Accounting Standards) Rules, 2015, as amended, and read with the Circular
is the responsibility of the Company's management and has been approved by the Board of
Directors of the Company. Our responsibility is to express a conclusion on the Statement based
on our review.
We conducted our review in accordance with the Standard on Review Engagements(SRE) 24l 0, ‘Review of Interim Financial Information Performed by the Independent Auditor
of the Entity’ issued by the Institute ofChaitered Accountants of India. This standard requiresthat we plan and perform the review to obtain moderate assurance as to whether the Statement
is free of material misstatement. A review is limited primarily to inquiries of Companypersonnel and analytical procedures applied to financial data and thus provides less assurance
than an audit. We have not performed an audit and accordingly, we do not express an audit
opinion.
Based on our review conducted as above, nothing has come to our attention that causes us to
believe that the accompanying Statement, prepared in accordance with the recognition and
measurement principles laid down in the applicable Indian Accounting Standards (‘Ind AS’)specified under Section 133 of the Companies Act, 2013, read with relevant rules issued
thereunder and other recognised accounting practices and policies has not disclosed the
information required to be disclosed in terms of the Regulation, read with the Circular,including the manner in which it is to be disclosed, or that it contains any material misstatement.
For S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants
ICAI Firm registration number: lOlO49W/E300004
Mmper Navin AgrawalPartner
Membership No.: 56102
Place: BengaluruDate: October 30, 2018
S R Batliboi S Associates LLP. a Limited Liability Partnership with LLP Identity No. AAB-4295
Regd Olfice : 22, Camac Street, Block ‘8'. 3rd Floor. Kolkata-7OO 016
CIN: L74140MH2000PLC124003 E-MAIL:[email protected] WEBSITE: www.teamleasegroup.com
TEAMLEASE SERVICES LIMITED
Regd. Off: Office No.6, 3rd Floor, C Wing Laxmi Towers, Bandra Kurla Complex, Bandra (E) Mumbai - 400051
Statement of unaudited standalone financial results for the quarter and half year ended September 30, 2018
{35. In Lakhs “cent per share dnta]
3-Months Ended3 MPreffidéngd d 3C3;::::2:::d 6—Months Ended 6-Months Ended Vear Ended
- on s n e -
‘
2 1 30 09 2018 30 09 2017 31 03 2018Particulars 30/09/ 0 830/06/2018 30/09/2017
/ / / / / /
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Revenues
Revenue from operations (net of taxes) 101,446 86 94,599 05 84,877.58 196,045.91 167,721.75 344,074.08
Other income 674 01 815 47 638 18 1,489.48 1,418.79 2,438.05
Total income 102,120.87 95,414.52 85,515.76 197,535.39 169,140.54 346,512.13
Expenses
Employee benefits expense 96,012.38 90,419.40 82,079.47 186,431.78 162,397.94 331,942.57
Finance costs 66 19 41 94 19 52 108.13 37.03 110.22
Depreciation and amortisation expense 98 86 100 96 97.11 199.82 193.59 372.34
Other expenses 3,624 10 2,680 99 1,657 97 6,305.09 3,178.14 7,024.14
Total expenses 99,801.53 93,243.29 83,854.07 193,044.82 165,806.70 339,449.27
Profit before tax 2,319.34 2,171.23 1,661.69 4,490.57 3,333.84 7,062.86
Current tax (net of MAT) 58 72 69 38 - 128.10 - -
Deferred tax (credit)/ charge (90.73) 0.35 (85.44) (90.38) (119.49) (192.34)
Income tax (credit)/ expense (32.01) 69.73 (85.44) 37.72 (119.49) (192.84)
Net Profit for the period/year 2,351.35 2,101.50 1,747.13 4,452.85 3,453.33 7,255.70
Other comprehensive income
Items that will not be reclassified to profit or loss
Re-measurement gains/ (losses) on defined benefit plans (1 31) (7 35) 6.57 (8.66) 2 03 28.90
Income tax effect 0 46 2 57 (2.27] 3.03 (0.70) [10.00:
Other comprehensive income, net of tax (0.85) (4.78) 4.30 (5.63) 1.33 18.90
Total comprehensive income 2,350.50 2,096.72 1,751.43 4,447.22 3,454.66 7,274.60
Paid-up equity share capital (face value Rs 10/- each fully paid) 1,709 68 1,709 68 1,709 68 1,709.68 1,709 68 1,709.68
Dther Equity 41.55643
Earnings per equity share (face value Rs 10/- each fully paid)
Basic EPS (Rs) 13 75 12 29 10.22 26.04 20.20 42.44
Diluted EPS (RS) 13 75 12 29 10.22 26 04 20.20 42.44
Notes
1 In terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015, the aforesaid statement of unaudited standalone financial results for the quarter and
six months ended September 30, 2018 and unaudited standalone statement of assets and liabilities as at September 30, 2018 of the Company have been reviewed by the Audit Committee
and approved by the Board of Directors at their respective meetings held on October 30, 2018 The aforesaid results for the quarter and six months ended September 30, 2018 have been
subjected to limited review by the statutory auditors of the Company
2 The financial results have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (IND-AS) prescribed under
section 133 ofthe Companies Act, 2013 read with the relevant rules issued thereunder.
3 IND-AS 115 Revenue from Contracts with Customers, mandatory for reporting periods beginning on or after April 1, 2018 replaces existing revenue recognition requirements. The Company
has evaluated impact of Ind AS 115 for various revenue streams In respect of revenues recognised till March 31, 2018, where performance obligation criteria was not met, the same has
been reversed and impact thereof (net of tax effect) of Rs 100 59 lakhs is adjusted in the retained earnings as at April 01, 2018 under modified retrospective approach. For the six months
ended September 30, 2018, revenue of Rs 136 50 lakhs has not been recognized since the required performance obligation criteria is not met.
4 During the quarter ended September 30, 2018, no options have been granted or forfeited under the scheme TeamLease Employees Stock Option Plan 2015 Further, 17,077 options got
exercised and 900 options got lapsed on account of resignation of an employee in the current quarter
5 During the quarter ended September 30, 2018, the Company acquired additional equity stake of 21% in Cassius Technologies Private Limited (”CTPL") as per the definitive agreements at an
agreed consideration of Rs 378 00 Iakhs, thereby increasing the total stake to 51% in CTPL Further, the Company has option to acquire balance 49% equity stake at an agreed price
Accordingly, CIPL has been accounted for as a 100% subsidiary with effect from July 31, 2018.
6 During the quarter ended September 30, 2018, the Company entered into an Investment agreement with Avantis Softech LLP ("Avantis LLP") to acquire equity stake and invest in
Compulsorilv Convertible Cumulative Preference Shares ('CCPS') of a private limited company to be formed in near future on conversion of Avantis LLP at an agreed consideration of
Rs 700.00 Lakhs. Avantis LLP is engaged in rendering SAAS based governance, risk and compliance automation
7 The figures of the previous periods have been regrouped/ reclassified, wherever necessary
8 The above standalone financial results of the Company are available on the Company's website (www.teamleasegrcup corn) and also on the website of BSE (www.bseindia com) and NSE
(www nseindia corn), where the shares ofthe Company are listed
For and on behalf of the Board
For TeamLease Services Limited
C\\s0.13Ashok Kumar Nedurun-ialli
Date: October 30, 2018
Place: Bengaluru
Managing Director
DIN : 00151814
TEAM LEASE SERVICES LIMITED
Regd. Off: Office No. 6, 3rd Floor, C Wing Laxmi Towers, Bandra Kurla Complex, Bandra (E) Mumbai - 400051
CIN: L74140MH2000PLC124003 E-MAIL: [email protected] WEBSITE: www.team|easegroup.com
Standalone Segment-wise revenue, results, assets and liabilities for the quarter and half year ended September 30, 2018
The Company is primarily engaged in the business of providing manpower services. The Company has identified following reportable segments in context of IND AS
108 Operating Segments:
General Staffing and Allied Services - Comprises of Staffing Operations, Temporary Recruitment and Payroll & NETAPP.
Other HR Services - Comprises of Permanent Recruitment, Regulatory Compliance and Training Operations
[Rs. In Iakhs)
:2.Particulars
3-Months Ended 3-MP;::Ie:lEnngded :EAZEKZES; 6-Months Ended 6-Months Ended Year Ended
30/09/201830/06/2018 30/09/2017
30/09/2018 30/09/2017 31/03/2018
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Segment revenue
General Staffing and Allied Services 97,731.41 91,608.17 83,504.39 189,339.58 165,155.05 337,490.51
Other HR Services 3,715.45 2,990.88 1,373.19 6,706.33 2,566.70 6,583.57
Total Income from operations 101,446.86 94,599.05 84,877.58 196,045.91 167,721.75 344,074.08
2 Segment results
General Staffing and Allied Services 1,747.48 1,472.55 1,351.83 3,220.03 2,595.37 5,817.60
Other HR Services 338.99 224.77 (36.31) 563.76 31.61 353.40
Unallocated 299.06 515.85 365.69 814.91 743.89 1,002.08
Total 2,385.53 2,213.17 1,681.21 4,598.70 3,370.87 7,173.08
Less: Unallocable items
Finance costs 66.19 41.94 19.52 108.13 37.03 110.22
Profit before tax 2,319.34 2,171.23 1,661.69 4,490.57 3,333.84 7,062.86
3 Segment assets:
General Staffing and Allied Services 34,682.90 29,889.68 29,077.98 34,682.90 29,077.98 28,787.38
Other HR Services 6,887 01 7,867.87 5,384.09 6,887.01 5,384.09 7,541.45
Unallocated 53,535.79 52,221.92 42,176.30 53,535.79 42,176.30 46,450.07
Total 95,105.70 89,979.47 76,638.37 95,105.70 76,638.37 82,778.90
4 Segment liabilities:
General Staffing and Allied Services 35,003.20 31,814.15 26,950.17 35,003.20 26,950.17 27,244.76
Other HR Services 4,065.64 5,314 29 3,078.74 4,065.64 3,078.74 5,113.29
Unallocated 8,405 76 7,588.79 6,808.18 8,405.76 6,808.18 7,154.74
Total 47,474.60 44,717.23 36,837.09 47,474.60 36,837.09 39,512.79
Date: October 30, 2018
Place: Bengaluru
For and on behalf of the Board
For TeamLease Services Limited
N£M¢5Ashok Kumar Nedurumalli
Managing Director
DIN : 00151814
TEAMLEASE SERVICES LIMITED
Regd. Off: Office No.6, 3rd Floor, C Wing Laxmi Towers, Bandra Kurla Complex, Bandra (E) Mumbai - 400051
CIN : L74140MH2000PLC124003 E-MAIL : [email protected] WEBSITE :www.team|easegroup.com
Unaudited Standalone Statement of Assets and Liabilities as of September 30, 2018
(Rs. in Lakhsl
Sr.Particulars
As at As at
"0' 30 September 2018 March 31, 2018
A ASSETS Unaudited Audited
1 Non-current assets
Property, plant and equipment 293.38 229.30
Other intangible assets 74.01 213.50
Intangible assets under development 21.89
Financial assets
(i) Investments 18,243.20 16,923.19
(ii) Loans 9,277.75 7,753.01
(iii) Others 3,895.72 4,171.65
Deferred tax assets (net) 5,273.54 4,099.77
Income tax assets (net) 10,233.83 7,308.12
Other non-current assets 38.06 58.78
Total non-current assets 47,329.49 40,779.21
2 Current Assets
Financial assets
(i) Investments 3,549.25 3,231.52
(ii) Trade receivables 20,479.41 19,666.87
(iii) Cash and cash equivalents 5,808.53 7,109.54
(iv) Bank balances other than cash and cash equivalents 4,678.86 5,816.42
(v) Loans 164.19 120.37
(vi) Others 11,442.09 4,793.86
Other current assets 1,653.88 1,261.11
Total current assets 47,776.21 41,999.69
Total assets 95,105.70 82,778.90
B EQUITY AND LIABILITIES
1 EQUITY
Equity share capital 1,709.68 1,709.68
Other equity 45,921.42 41,556.43
Total equity 47,631.10 43,266.11
LIABILITIES
2 Non-current liabilities
Financial liabilities
Other financial liabilities 499.13 -
Net employee defined benefit liabilities 4,166.37 4,268.45
Other non-current liabilities 477.90 489.07
Total non-current liabilities 5,143.40 4,757.52
3 Current liabilities
Financial liabilities
(i) Borrowings 422.42 -
(ii) Trade payables
(a) Total outstanding dues of micro enterprises and small enterprises; and --
(b) Total outstanding dues of creditors other than micro enterprises and small 2,163.61 1,378.64
enterprises
(iii) Other financial liabilities 19,825.75 13,387.47
Net employee defined benefit liabilities 2,564.09 2,228.40
Other current liabilities 17,355.33 17,760.76
Total current liabilities 42,331.20 34,755.27
Total liabilities 47,474.60 39,512.79
Total equity and liabilities 95,105.70 82,778.90
Date: October 30, 2018
Place: Bengaluru
For and on behalf of the Board
For TeamLease Services Limited
6): lglgfl .33Ashok Kumar Nedurumalli
Managing Director
DIN :00151814
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Press Release- Q2 FY19
Bengaluru, India, Oct 30, 2018- TeamLease Services Limited (NSE: TEAMLEASE, BSE: 539658), one of India’s largest staffing companies, today announced its results for the second quarter (Q2FY19) and for the first half year (H1FY19) ended September 30, 2018. Summary of Consolidated financial results:
(all numbers in Rupees’ Crores except Margins)
Particulars Q2FY19 Q2FY18 YoY
Growth % Q1FY19
QoQ Growth %
H1FY19 H1FY18 H1
Growth %
Total Revenue 1,094.7 880.0 24.4% 1,026.6 6.6% 2,121.2 1,738.8 22.0%
Operating Revenue (net) 1,090.7 875.6 24.6% 1,021.3 6.8% 2,112.0 1,728.6 22.2%
EBITDA 24.0 15.2 57.8% 20.0 19.5% 44.0 28.2 55.9%
EBITDA margin (%) 2.2% 1.7%
2.0%
2.1% 1.6%
PBT 23.7 17.3 36.9% 21.5 9.9% 45.2 33.9 33.3%
PBT margin (%) 2.2% 2.0%
2.1%
2.1% 2.0%
Net Profit (PAT) 24.9 17.4 43.1% 21.8 14.3% 46.7 33.8 38.1%
PAT margin (%) 2.3% 2.0%
2.1%
2.2% 2.0%
EPS (Basic and Diluted)-Rs. 14.6 10.2 43.1% 12.8 14.3% 27.3 19.8 38.1%
Highlights of financial performance:
1. Quarterly revenue grew by 24% YoY and half-yearly revenue grew by 22% YoY. Organic growth in general staffing is 19% YoY.
2. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was ₹ 24 crores for Q2FY19 and ₹ 44 crores for H1FY19 reflecting YoY growth of 58% on a quarterly basis and 56% on half-yearly basis. This was achieved by way of margin expansion in HR services and operating leverage in general staffing. Organic EBITDA grew by 40% YoY.
3. Profit Before Tax (PBT) was ₹ 23.7 crores for Q2FY19 and ₹ 45.2 crores for H1FY19 reflecting YoY growth of 37% on a quarterly basis and 33% on half-yearly basis. PBT margin improved to 2.2% in Q2FY19 from 2.0% in Q2FY18.
4. Profit After Tax (PAT) was ₹ 24.9 crores for Q2FY19 and ₹46.7 crores for H1FY19 reflecting YoY growth of 43% on a quarterly basis and 38% on half-yearly basis. PAT margin improved to 2.3% in Q2FY19 from 2.0% in Q2FY18. The Company continues to avail the tax benefits under section 80JJAA of the Income Tax Act, 1961 and deferred tax benefits.
5. Earnings Per Share (EPS) was ₹ 14.6 for Q2FY19 and ₹ 27.3 for H1FY19.
Press Release- Q2 FY19
Business Update
1. Associate/ trainee headcount increased by ~37,000 on YoY basis and by ~8,000 on QoQ basis. Our current associate headcount in general staffing is ~145,000 and NETAP trainee headcount is ~49,000.
2. Our ratio of associates/trainees to staffing core employees improved to 241 in Q2FY19 from 210 in Q2FY18.
3. Our total core employee headcount has reduced to 1,704 in Q2FY19 from 1,726 in Q1FY19. Improvement in productivity achieved by virtue of standardization of processes and investments made into technology.
4. We have reduced our funding exposure to 16% in general staffing business from 23% in Q2FY18 and maintained efficient working capital management.
Management Comment Mr. Ashok Reddy, Managing Director, TeamLease Services Limited said, “Our focused approach on headcount addition and sales reorganization has helped deliver good set of results in the first half of the year. Our acquisition of Avantis regtech platform strengthens our ‘Ease-of-Doing-Business’ vertical with a vision to drive Paperless, Presenceless and Cashless compliance for small and big employers. We will continue our investments in both home-grown products and inorganic businesses balancing capital frugality, margin expansion and consistent growth”. About TeamLease Services Limited We are one of India’s leading providers of human resource services with a vision of ‘Putting India to Work’. Our services span the entire people supply chain of human resources, covering Employment, Employability and Education. Our Employment services include staffing solutions, recruitment services and compliance services. Our Employability offerings include different types of learning and training solutions for retail, institutional and enterprise customers. We have more than 201,000 employees/associates/trainees with over 2,250 clients across 6,600 locations in India. For more details, visit www.teamleasegroup.com Investor contact
Ravi Vishwanath Chief Financial Officer
Tel: +91 80 3324 3330 Fax: +91 80 3324 3001 E-mail: [email protected]
Renu Praveen Adfactors
Tel: +91 9742279654 Fax: +91 80 3324 3001 E-mail: renu.praveen @adfactorspr.com